Hagen has extensive experience advising on financial regulatory matters. His practice covers a broad range of areas, including financial services licensing and approvals, conduct of business and regulatory change projects. His clients include banks, payment services firms, digital asset exchanges and dealers, capital markets intermediaries, funds and fund managers, exchanges, proprietary trading houses and commodity groups.
With extensive experience of engaging with the Monetary Authority of Singapore (MAS) and other regulators, and of practising in Asia and Europe, Hagen provides strategically valuable advice and has a unique understanding of the international issues and synergies that are relevant to clients.
Leading a practice in Singapore that has a particular focus on FinTech, payment services and digital assets, Hagen has a wealth of experience in matters relating to digital asset exchanges, dealers and custodians, e-money issuance, money transfer and remittance services, merchant acquisition and payment systems. He is a sought-after adviser, speaker and writer on matters relating to distributed ledger technology, blockchain platforms, tokenisation and DeFi (decentralised finance).
Chambers Fintech describes Hagen as a specialist who is “on the pulse for anything FinTech and crypto-related“, and further notes him as being “an absolute standout” whose advice is always “concise, prompt and thoughtful“.
Professional Admissions / Qualifications
Singapore (s.36B Legal Profession Act, permitted areas of law only)
Assisting a range of cryptocurrency exchanges, cryptocurrency OTC dealers, managers of cryptocurrency funds and digital asset custodians on their licensing position and conduct obligations
Advising stablecoin issuers on the features, structure and regulatory treatment of their stablecoins
Advising merchant acquisition and money transfer businesses on their regulatory position
Drafting account terms and conditions for a bank providing safeguarding services to payment services firms
Fintech and digital services
Advising a digital securities exchange on its MAS sandbox application and drafting its exchange rulebook
Advising a global insurance group on the setup and licensing of a digital insurance distribution hub
Delivering an extensive training workshop to an international bank on the legal and regulatory treatment of application programme interfaces (APIs)
Advising on, and drafting the contractual documentation for, major e-commerce and payment services collaborations between banks and technology companies
Regulatory licensing and approvals
Assisting banks, capital markets intermediaries, financial advisers and payment services firms with their licence applications to the MAS
Advising on MAS approval and notification requirements relating to the change in control of banks, capital markets intermediaries, insurers, insurance intermediaries, financial advisers and payment services firms
Assisting operators of trading platforms with their applications to the MAS for approval as recognized market operators (RMOs)
Advising global commodity trading groups on their Singapore licensing position and OTC derivatives reporting obligations
Conduct of Business and Governance
Advising a US-based banking group on the routing of its global FX trading, custody, securities agency lending and other services through Singapore in light of Brexit
Drafting terms of business for the Singapore branch of an international private bank
Drafting a global compliance manual for an international private equity group
Advising an international fund manager on its Singapore governance and board composition requirements